Good Tuesday Morning welcome to squawk alley. Joining me at post flnine this morning, sarah eyeseyer eisen. Also joining us is roger mack in a my good morning to you. A lot to get to to dafrment first up, faang stocks several hedge funneled managers bearish on the stocks in the Second Quarter third point, aprpaloosa and soro are liquidating 18 stakes in those areas. They speak out on the companys streaming strategy versus fellow faang stock amazon you wrote an oped in investing in the stocks two days ago do you seenlt. Turning as were getting the filings to day i dont yet and, in fact, what i am really curious to know is where the money went that was taken out of the stocks if you look at by funneled, the sales werent in general huge. Most of them look more like trims than, you know, lots of dumping. And, in fact, the thing that i think everyone looks closely at tech recognizes is that the faang stocks are leadership stocks for a really good reason. Their market power has given them hu
Still positive on stocks and short bonds. Tepper telling me of the markets, quote, any comparison to past overheated markets are ridiculous look at where multiples and rates were in 1999 im not saying stocks are screaming cheap, but youre nowhere near an overheated market, he said. Tepper calling his short of bonds a hedge, a trade that is not working now, but that hopefully will tepper citing strong Global Growth and low bond yields as two of the principle reasons he sees more opportunity ahead in stocks telling me, quote, because world growth will continue to be good, earnings will be better and stocks are relatively cheap to Interest Rates asked where rates would begin to become concerning for him, tepper telling me, if rates go up a lot, the market would have trouble with that, but 50 basis points is not going to make a difference, he said. I asked him about his portfolio, his 13f revealing yet that he continues to like tech tepper owning positions in names like alibaba, afl belpha
For cooperation from china to avoid any miscalculation of a north korea, investors like that one too. Here is number two, today President Trump will sign infrastructure plan, thats got a good shot at bipartisan support and investors as well. It seems the market is ignoring the intense hostility that the president is facing and ignoring the three ceo resignations from the manufacturing Advisory Council. Here is how the day is shaping up. A trump win on north korea maybe a trump win on infrastructure, solid economic numbers just coming into us, and, yes, another market rally, welcome to the show, Varney Company is about to begin. Stuart just coming into us, iran threatening to quit the nuke deal if u. S. Imposes new sanctions. Liz, they say they will quit, quote, within hours. Within hours, hour an and day. Iran allocated a hundred Million Dollars to new missile program. This is tough Senate Sanctions or iran, russia and north korea. Iran not liking that. Iran is ramping up the rhetoric,
Four executives calling their moves, quote, grandstanding. Weve got all the business bases covered for you. Congressman rodry davis sits on house transportation and Infrastructure Committee and jay timmons is the president of the National Association of manufacturers, theyre here on why this new executive order might be long overdue, and whether it really will fast track projects . Plus the white supremacist neonazi weekend protests in virginia reigniting the debate over hightechs responsibility to protect free speech but weed out bad actors. Niko malay of media and Public Policy on the new and dangerous frontier. On wall street, yesterdays best day of the summer, a distant memory as stocks struggled to stay above water. Above the 22,000 line by five measly points. Were watching it for you. Apple hitting a fresh high and dicks stumbled on the earnings warning track. Were less than an hour to the closing bell. Lets start the countdown. So as we mentioned, we are waiting on President Tru
That dont have a lot of meaning, to be honest. I wanted to make sure, unlike most politicians, that what i said was correct. The protests are set to continue with thousands of people expected outside trump tower here in new york city later today. France officials are now w San Francisco officials are worried about a rally planned without their knowledge. Reporter its not city property. It belongs to the National Park service. Thats the agency that permitted the event on august 26th. Crissy field is a very popular spot. Now officials here in the city are very boar ried about keeping the public safe the day of the rally. Were not welcoming this group into San Francisco to promote hate. Reporter mayor ed lee and bill scott condemning a right wing rally planned for saturday, august 26th at crissy field. We are a city of tolerance. We enjoy free speech. I suggest to you theres a difference between free speech and hate speech with the intent of causing violence. Reporter crissy field is Nati